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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. N/A)
DeVlieg-Bullard, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
251782 10 8
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(CUSIP Number)
John E. McConnaughy, Jr.
1011 High Ridge Road
Stamford, CT 06905
(203) 461-9836
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 24, 1999
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), (f) or (g), check the following box. [ ]
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 251782 10 8 13D Page 2 of 5 Pages
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John E. McConnaughy, Jr.,
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
PF
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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(7) SOLE VOTING POWER
NUMBER OF 752,600
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 752,600
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(10) SHARED DISPOSITIVE POWER
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
752,600
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(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
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(14) TYPE OF REPORTING PERSON
IN
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ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to the common stock, par value $0.01 per
share (the "Common Stock"), of DeVlieg-Bullard, Inc., a Delaware corporation
(the "Issuer"). The principal executive offices of the Issuer are located at One
Gorham Island, Westport, CT 06880.
ITEM 2. IDENTITY AND BACKGROUND.
(a) John E. McConnaughy, Jr.
(b) 1011 High Ridge Road, Stamford, CT 06905.
(c) Chairman and CEO, JEMC Corporation, 1011 High Ridge Road, Stamford,
CT 06905. Mr. McConnaughy is also a director of the Issuer.
(d) N/A
(e) N/A
(f) United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
This Schedule 13D is filed to reflect Mr. McConnaughy's beneficial
ownership of Common Stock resulting from purchases made in the open market of
742,600 shares and from an option Mr. McConnaughy holds to purchase 10,000
shares of Common Stock. The consideration paid for the 742,600 shares purchased
in the open market was approximately $385,588 (including commissions), all of
which came from Mr. McConnaughy's personal funds.
ITEM 4. PURPOSE OF TRANSACTION.
Mr. McConnaughy's purpose in acquiring the shares of Common Stock was
to increase his direct investment in the Issuer. Mr. McConnaughy's current plan
is to acquire additional shares of Common Stock so that he beneficially owns
approximately 1,000,000 shares of Common Stock.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(a) Mr. McConnaughy beneficially owns 5.9% of the Common Stock
of the Issuer, or 752,600 shares of Common Stock, consisting of 742,600 shares
of Common Stock held directly, and an option to purchase 10,000 shares of Common
Stock (right to acquire) that are vested or will vest within 60 days of the date
hereof.
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(b) Mr. McConnaughy beneficially owns the following number of shares of
Common Stock with:
Sole Voting Power: 752,600 shares of Common Stock
Shared Voting Power: 0 shares of Common Stock
Sole Dispositive Power: 752,600 shares of Common Stock
Shared Dispositive Power: 0 shares of Common Stock
(c) Mr. McConnaughy made the following purchases of Common Stock in the
open market:
<TABLE>
<CAPTION>
Date # of Shares Price Per Share
---- ----------- ---------------
<S> <C> <C>
4/1/99 2,600 $0.50
3/26/99 30,000 $0.50
3/24/99 240,000 $0.50
3/23/99 90,000 $0.50
3/18/99 30,000 $0.50
3/16/99 180,000 $0.50
3/15/99 110,000 $0.50
3/12/99 55,000 $0.50
3/11/99 5,000 $0.50
</TABLE>
(d) N/A
(e) N/A
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
N/A
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.
/s/ John E. McConnaughy, Jr.
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John E. McConnaughy, Jr.
Date: April 7, 1999
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